ScriptTV uses a dual token system. The primary token, $SCPT, is used to power and govern the overall network, while $SPAY is responsible for transactions, gas fees, smart contract interactions, and rewards.
$SCPT is an BEP-20 / SRC-20 token that will be multi chain. Our community can stake $SCPT in exchange for multiple crypto rewards and NFTs, use it to manage the Script Network through our upcoming decentralized autonomous organization (DAO), or earn $SCPT by running a node and supporting the network.
The Script blockchain has two primary native tokens: the Script Token ($SCPT) and the Script Pay token ($SPAY). SCPT is a governance token used to stake the validator and Lightning nodes. On the other hand, SPAY, the utility token, is used to pay content consumers, reward node operators, and pay for transactions on the Script blockchain.
The SPAY and SCPT tokens were created to increase the platform's integrity. Moreover, they make it unlikely that the tokens will be stored for future sale. This deterrent to removing tokens from circulation and storing them in wallets means that the Script platform can keep more tokens in circulation and easily control their value.
SCPT: It is a dual-use token. It is used for governance and staking. There will be a maximum supply of 1,000,000,000 (1 billion) SCPT tokens.
SPAY: The SPAY token is used for compensations, rewards, and blockchain payments. Initially, there will be a supply 5,000,000,000 (5 billion) tokens. However, unlike SCPT, their supply is not strictly capped. New SPAY tokens will be minted and released into the market every year. The number of tokens that will be minted and released will depend on a protocol algorithm.
SPAY tokens are supposed to be used in our everyday transactions. Their huge supply is supposed to keep their value low so that everyone can easily afford them. In addition, since more SPAY tokens are put into circulation every year, investors will not benefit from hoarding them. This means that platform users are better off using their tokens because if there is a glut of tokens on the market, their value will either remain the same or decline.